Oil & Gas Industry News

In the heart of U.S. shale country, gas is so plentiful that producers have to pay buyers to take it off their hands.

Oil prices surged to multi-year highs as the Iran conflict and Hormuz blockade tighten global supply.

Russia said it has no plans of leaving its alliance with OPEC after the United Arab Emirates' shock decision to quit the cartel raised questions about its future.

The stalemate in the U.S.-Iran conflict has continued for a further week with no clear resolutions on either side, Standard Chartered Bank Head of Energy Research Emily Ashford said.

'This decision aligns with the United Arab Emirates' long-term strategic and economic vision and the evolution of its energy sector', the UAE Ministry of Energy and Infrastructure said.

Not all mines placed by Iran in the Strait of Hormuz need to removed for ships to resume transiting the vital passageway, U.S. Energy Secretary Chris Wright said.

Crude settled higher on geopolitical tensions and tight physical markets, even as the UAE's planned OPEC+ exit added longer-term uncertainty.

Two offshore wind developers will give up federal leases and instead commit funds to fossil fuel projects under agreements with the Trump administration, the DOI said Monday.

The number of employees in the oil and gas extraction industry has dropped in seven of the last 10 years, data on the U.S. Bureau of Labor Statistics website shows.

'This establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions', Shell's Chief Executive Officer Wael Sawan said.